Gemini filed for an IPO, following in the footsteps of Circle’s recent successes. Nonetheless, this move has caused skepticism in the community as some KOLs wonder if this IPO is a bubble indicator.
The company has shown interest in an IPO for several months, and Cameron Winklevoss recently teased big future developments in a public appearance.
Gemini’s New IPO Explained
Gemini, a centralized crypto exchange founded by the Winklevoss twins, hasn’t been on the crypto industry’s radar for IPOs. However, after Circle’s recent IPO proved to be an overwhelming success, the exchange is joining the trend. According to a press release from Gemini, the firm filed to launch its own:
Still, this Gemini IPO is not necessarily a huge surprise; the firm teased such a development for months. At the recent Bitcoin Conference, Cameron Winklevoss described bold plans for his firm and the crypto industry as a whole. An IPO would certainly fit the bill. Nonetheless, some influential community members wonder if this is oversaturating the market:
“Oh boy, here comes the next one already. So we have Bitcoin Treasury companies and IPOs this cycle. Doubt Gemini is a good investment, but neither is Circle, and look what they’re valued at. Bubble forming,” WhalePanda claimed via social media.
In other words, some KOLs believe that Gemini’s IPO might represent a market top indicator. The firm has made some advancements recently, but an IPO doesn’t necessarily signal strong fundamentals. Whatever happens, it’s still in the early stages.
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